EV MA Municipal Income Stock Price, News & Analysis

MultiMetaVerse Holdings (NASDAQ: MMV) has signed a definitive share exchange agreement to acquire Bowong AI , which is expected to indirectly hold 100% equity interests in Bowong Technology. The deal involves MMV issuing 37,000,000 Class A ordinary shares to Bowong's shareholders. Bowong Technology specializes in AI e-commerce solutions, providing comprehensive AI technologies and services for sellers on both social and traditional e-commerce platforms. Upon completion, Bowong Cayman will become a wholly-owned subsidiary of MMV. The transaction remains subject to corporate approvals and customary closing conditions.

MultiMetaVerse Holdings (NASDAQ: MMV) provided an update on its joint venture with Zhenghe and GOLD ABC Digital Technology. MMV owns 20% of GOLD ABC, a Hong Kong-based entity focused on algorithmic asset appreciation. GOLD ABC had previously borrowed 500 Bitcoins from Zhenghe at $60,000 per Bitcoin for one year with 8% annual interest. On November 8th, 2024, Zhenghe agreed to waive the interest payment. As of November 10th, 2024, Bitcoin's price was $80,600.

MultiMetaVerse Holdings has received a notification from Nasdaq regarding non-compliance with two listing requirements: the minimum bid price of $1.00 per share and the minimum market value of listed securities of $35 million. The company failed to regain compliance during the extension period ending October 14, 2024. MultiMetaVerse now has until October 22, 2024 to request a hearing before the Nasdaq Hearings Panel, which it intends to do.

If no hearing is requested, trading of the company's Class A ordinary shares and warrants will be suspended on October 24, 2024, and a Form 25-NSE will be filed with the SEC to remove the securities from Nasdaq listing. In the event of delisting, the company's securities are expected to trade over-the-counter.

MultiMetaVerse Holdings (NASDAQ: MMV) has entered into a non-binding term sheet with Bowong Technology to acquire all shares of Bowong Technology through a Cayman Islands holding company. The proposed acquisition involves issuing 37,000,000 Class A ordinary shares of MMV at $0.75 per share, valuing Bowong Group at $28 million pre-acquisition.

Bowong Technology is a vertically integrated AI e-commerce company offering comprehensive AI technologies and services for sellers on social and traditional e-commerce platforms. The company has expanded internationally, partnering with platforms like Amazon and TikTok to provide AI live streaming slicing services.

The management team of Bowong Technology includes professionals from leading e-commerce and AI companies. The founder, Yingbo Liu, is a serial entrepreneur with experience in various aspects of business operations.

The term sheet is preliminary and non-binding, with no guarantee of completion or final terms of the proposed acquisition.

MultiMetaVerse Holdings (NASDAQ: MMV) has announced the establishment of a new joint venture, GOLD ABC DIGITAL TECHNOLOGY CO., , in partnership with ZHENGHE HOLDING CO., MMV owns 20% of GOLD ABC, which focuses on algorithms for self-holding asset appreciation. GOLD ABC has borrowed 500 Bitcoins at an average cost of $60,000 per Bitcoin from Zhenghe for a one-year term at 8% interest per annum. The joint venture plans to use AI algorithms for secondary market trades and intends to open a position in gold over the next three months.

This strategic move represents MMV's expansion into digital assets and blockchain technology, positioning the company at the forefront of financial innovation. MMV, known for its animation and entertainment content under the Aotu World brand, aims to leverage this collaboration to enter a new industry and create value for shareholders.

MultiMetaVerse Holdings (MMV), a leading Chinese animation and entertainment company, has entered into an agreement with Zhenghe Holding to form a joint venture focused on trading alternative assets using quantitative investment algorithms. Zhenghe will own 80% of the joint venture and handle daily operations, while MMV will hold a 20% stake and appoint one board director. The joint venture aims to capitalize on alternative assets like cryptocurrencies and gold, leveraging Zhenghe's blockchain expertise and trading strategies. Both companies aim to make AI-driven research a cornerstone of the venture, and MMV may consider increasing its stake in the future.

MultiMetaVerse Holdings (MMV), a leading animation and entertainment company in China, has signed a non-binding term sheet to acquire Bowong Technology (Shenzhen) Co., (Bowong AI). The acquisition involves issuing MMV's Class A ordinary shares to Bowong AI shareholders as consideration, with a lock-up period of one year. MMV has a 90-day exclusive period to finalize the agreement. Bowong AI, founded in 2022, specializes in AI-driven e-commerce solutions, focusing on marketing content creation and distribution. Bowong AI recently completed its Series A funding, aiming to enhance its AI models, expand into Asia and North America, and recruit top talent. MMV's CEO, Yiran Xu, highlighted Bowong AI's expertise in e-commerce and its potential synergy with MMV's animation and merchandise business.